. >> five days away from going over that fiscal cliff, as matthew said. how should you position your portfolio? gentlemen, good morning to you both. good to see you again. >> thanks for having me. >> good morning. >> charles, everybody wants to know, if you're in the mood to buy something, do you really take a flier on congress getting it together, even if the president is coming back early from vacation? >> no. it would be a mistake to be trading your portfolio based on your outlook, this is the most widely covered story i've seen in a long time. it would be a bad idea to try to invest, making a prediction around the fiscal cliff. what you do know, we believe when this gets solved, and it will, that the stock market looks pretty cheap to us. when they get behind this, there are certain sectors that will do very, very well. >> david, is it possible, i mean, if this goes well into january, and we are down 500 points, 600 points, what do you do? >> well, i think you have to look long term, carl. that's a little bit trite, but ultimately you have to look at